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Economist Podcasts

The new mediocre: the world economy

Economist Podcasts

The Economist

News, News & Politics

4.35K Ratings

🗓️ 9 April 2019

⏱️ 20 minutes

🧾️ Download transcript

Summary

The International Monetary Fund releases its global-growth forecast today. Expect news of a downgrade, but not recession: low growth has become the status quo. We join international forces in Burkina Faso, where African troops are being trained to contain a growing risk of jihadism. And, why is it that concern about climate-change comes and goes? 

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Transcript

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0:00.0

Hello and welcome to the Intelligence on Economist Radio. I'm your host, Jason Palmer. Every weekday, we provide a fresh perspective on the events shaping your world.

0:17.2

In the Sahel, a vast swath of land that stretches across the African continent, there's a worrying trend.

0:23.6

Jihadists of several stripes are growing in number and in influence.

0:28.6

We tag along with an international training exercise aimed at preparing African forces to contain the threat.

0:34.6

And you might think that the public's interest in the world's changing climate has been on a steady rise.

0:41.8

You'd be wrong.

0:43.1

A dive into data about online searches reveals that climate concern comes and goes.

0:56.6

First up, though.

1:04.6

Over the past six months, a pessimistic picture of the world economy has been emerging.

1:11.6

Speaking at the US Chamber of Commerce last week, Christine Lagarde, the head of the International Monetary Fund, issued a warning. The global economy is at a delicate moment. Only two years ago, 75% of the global economy experienced an

1:23.4

upswing. So it was a synchronized growth acceleration. For this year, we expect not 75, but 70% of the global

1:35.0

economy to experience a slowdown in growth. Exactly the opposite of what we had.

1:42.4

The IMF later today will be publishing its forecast for the year.

1:46.6

Simon Cox is our emerging markets editor based in Hong Kong. We already know a little bit about it

1:52.1

from a speech Christine Lagarde gave. She pointed out that they'll be cutting their forecast.

1:57.0

They had expected back in January the world economy to grow by about 3.5% this year.

2:02.0

So it sounds like they're going to shave some off that forecast.

2:06.1

However, she did emphasize that the IMF does not expect a recession this year.

2:10.2

So it's a slowdown and one that should bottom out by about mid-year in their view.

2:14.5

And why are we seeing this slowdown?

2:16.3

So the slowdown is quite broadly based.

2:18.5

LeGuard pointed out that a whole variety of countries have slowed down from last year. China has been

...

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